RPAMatters

09/21/2022

Do you or your clients have a SIMPLE IRA? Have you considered the benefits of converting to a traditional 401(k)? RPA can help with that!

Do you or your clients have a SIMPLE IRA? You may be able to benefit from starting a 401(k) plan! There are several benefits to replacing your SIMPLE IRA, but Employers must notify employees before November 2, 2022 that their SIMPLE IRA will be replaced with a 401(k) plan (effective 1/1/2023). Here....

07/26/2022

Did your business receive all available tax credits under the CARES ACT?

The Employee Retention Tax Credit (ERC) is a payroll tax credit that can potentially eliminate your business payroll tax or generate a cash refund. For most businesses, this is one of the largest federal financial incentives available, providing up to $26,000 per employee. 40% of businesses are not....

06/01/2022

Are you invested properly for current market conditions? Here are some tips to review your investments. As always, if you're unsure, it may be helpful to seek guidance from a licensed professional.

https://www.retirementplanners.com/post/how-should-you-be-invested-in-choppy-market-conditions

Choppy and volatile markets prompt investors to ask themselves if they are properly allocated for the market conditions. However, often, participant act against their own interests by making investment choices that could have lasting consequences. While there is no single right answer, there are a f...

04/26/2022

Last month, we posted an article explaining a warning from the DOL against adding crypto assets to retirement plans. Today, Fidelity announced it would begin offering the option later this year. This is a major announcement that may affect the whole industry in a meaningful way.

https://www.cnbc.com/2022/04/26/fidelity-offers-401k-investors-access-to-bitcoin-a-retirement-plan-first.html #:~:text=Fidelity%20Investments%20said%20Tuesday%20it,accounts%20by%20mid%2Dyear%202022.

Fidelity Investments will enable investors to put bitcoin in their 401(k)s, the first retirement plan provider to offer crypto for retirement savings.

03/28/2022

Considering crypto assets as an investment option in your qualified retirement plan? Think again says DOL, citing fiduciary/investment risk concerns. https://roanoke.com/business/keep-cryptocurrencies-out-of-401-k-plans/article_29108c26-a92c-11ec-a98e-c7f67ac1caf1.html

03/28/2022

Have you (or your participants) taken their RMDs yet? The deadline is approaching.

For retirees who turned 72 during the last half of 2021, in most cases, Friday, April 1, 2022, is the last day to begin receiving payments from Individual Retirement Arrangements (IRAs), 401(k)s and similar workplace retirement plans.

02/24/2022

What exactly is "auto re-enroll?" A recent bill proposal takes auto-enroll one step further for retirement plan providers. The proposal would require plan sponsors to prompt eligible participants who have opted out to enroll in the plan every three years.

The Auto Reenroll Act of 2022, which would encourage retirement plans to automatically reenroll workers, was introduced in Congress on Friday

01/27/2022

Is it too late to establish a 2021 retirement plan?

In years prior to 2020, owner-only businesses had to establish and adopt a self-directed solo 401(k) before the end of the business year, based on the fiscal year for the company. The Secure Act provides more time for owner-only businesses to establish a plan. With the passage of the SECURE Act (Set...

12/28/2021

Does your 401k plan include Roth as an option? If not, you're in the minority.

About 86% of employers with a 401(k) plan allowed for Roth savings in 2020, up from 75% in 2019, according to the Plan Sponsor Council of America.

12/07/2021

Is your retirement plan current with recent regulations? See below for some common issues you may want to consider as the year comes to a close.

A recent “Workplace Law Update” from Laner Muchin, Ltd. provides a summary of year-end 401k compliance issues plan sponsors should consider

11/05/2021

The IRS has published updated limits for retirement plans for 2022. See the link below for more details.

This information is provided as a courtesy and is not designed to be all encompassing. It is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation.

11/04/2021

RPA is hiring. Competitive salaries, flexible hours, work from home. See link below.

Job posted on October 21, 2021 for RPA in Remote / Falls Church VA, presented by EmployeeBenefitsJobs.com.